Both the Taoiseach and the Minister for Finance referred to the wrongdoing on the part of the heads of the financial institutions being dealt with in due course. There is an anxiety among the public that some will get off scot free. They will not. Getting the economy back to square one is the priority for now. Those individuals in the banking institutions will be dealt with in due course.

The measures introduced in the House yesterday by the Taoiseach were taken because no other options were available to reduce current spending. We are all affected by them and know others who are also affected. This is not an attempt to punish the public sector or drive a wedge between it and the private sector. It is an attempt to stabilise the economy in order that we can again enjoy a prosperous one in the future. I did not see any proposal from the Opposition to do the same.

There has been much criticism from Opposition parties. We know how easy it is to criticise. The Opposition has proved its worth with its lack of credibility in any of the alternative suggestions it has offered in the past few months. This is a time for support across the board, not criticism. Does the Opposition realise the seriousness of our situation? If it does, it is time it got on board and offered something constructive. Each week abuse is shouted at Ministers. That is not what the people want. They want to see informed and constructive debate and it is time they had it. They realise the seriousness of our situation because they are feeling it. They deserve more than a shouting match in Parliament. The blame game must stop if we are to bring the economy back to what we once enjoyed. We will have to work together. We are in a global recession and not alone with the problems we face. However, we must work with the strategies devised by the Government to address the problems we face.

The new pension levy will be treated for tax purposes which means it will be effectively relieved of tax at the marginal rate. There has been much disquiet among workers in the public sector, which we understand. Everybody in the economy, however, is suffering. Those in the private sector have been suffering pain for several months, with many of them losing their jobs. I hope common sense will prevail in the Chamber before not too long and that we will work with the Taoiseach and the Government in tackling these problems.

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